Why Universal Display Corporation Stock Lit Up Today

Why Universal Display Corporation Stock Lit Up Today

Shares of Universal Display Corporation (NASDAQ: OLED) were up 10.6% as of 12:30 p.m. EDT Friday after the OLED technologist announced strong third-quarter 2017 results.

More specifically, Universal Display's quarterly revenue climbed 104% year over year to $61.7 million. Net income skyrocketed to $13.5 million, or $0.28 per diluted share, swinging from a loss of $1.5 million, or $0.03 per share in the same year-ago period. Investors were only anticipating earnings of $0.12 per share on total revenue of $47.1 million.

Image source: Universal Display

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Source: Fool.com